This is not a second dip because there was not an upswing. Double-dip recession is a talking point.
Appraisers all over the US are seeing another downturn. Listings over the last month are well below sales prices from the prior six months, showing a lack of demand, coupled with increasing inventories, and a need to liquidate housing. Builders are giving as much as $100K discounts off of “list” prices in some areas just to move inventory.
Read the Note at the bottom of the article. Jeez.